(Image via Stephanie Mitchell/Harvard Public Affairs and Communications)
Harvard University's Chief Financial Officer Dan Shore will be stepping down from his position at the end of September to join Onshape, a startup applying cloud, Web and mobile technologies to computer-aided design.
Shore's tenure at Harvard began in 2003. He directed budgets and financial planning for five years before becoming the university's CFO in 2008, according to Harvard Magazine. Shore is responsible for overhauling "most aspects" of the school's financial operations. His departure, however, also signals an overhauling of Harvard's financial leadership team.
Jane Mendillo, president and CEO of the Harvard Management Company, announced in June she would be stepping down at the end of 2014. Mendillo was recognized as the first woman to oversee Harvard's $32.7 billion endowment, which she helped steadily regrow following the financial crisis of 2008.
In May, Harvard announced Paul Finnegan, a two-year member of the Harvard Corporation, would replace James Rothenberg as the university's treasurer — a position Rothenberg held for 10 years.
Despite the changes, Harvard Magazine reports, "No one assumes that any significant changes in policy or practice are pending as a result of the management takeover."
Shore will serve as the CFO of Onshape, using his experience in finance, strategy and legal to help the Cambridge-based startup "reshape how the world designs products." Shore described his time at Harvard as a "true honor," saying in a statement:
Harvard has had a tremendous impact on me and I will be forever grateful for the quality and integrity of all my Harvard colleagues, and others throughout the Harvard community, who make this such a unique and remarkable place.
There is no word on an interim successor, but Harvard will start a search to replace Shore soon.
